housing crisis: A New Report Predicts more Problems in the Housing Market Through 2012 - 08/27/09 12:23 PM
Interthinx is one of the leading loss mitigation companies in the mortgage industry. What they do is check for and keep statistics on various types of mortgage fraud such as occupancy fraud, income fraud and valuation fraud.
They just came out with a report that shows that overall fraud is up … (2 comments)
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housing crisis: The Housing Market has not hit bottom yet - 08/25/09 10:16 AM
For all those raving fans who were impressed that the Case Shiller Price index decreased by 15% instead of the 16% that was expected; Keep in mind: It's still going down!
I have been saying that it will take until 2011 for the market to start to rebound. Apparently some other … (12 comments)
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housing crisis: Wow, Foreclosures are on the rise! Did anyone not see this coming? - 08/13/09 07:58 AM
AP ran a story this morning from RealtyTrac that foreclosures were higher in July than any month since foreclosures have been statistically recorded. Here is the link:
http://m.apnews.com/ap/db_8559/contentdetail.htm?contentguid=ADn6wDlV
Does this suprise anyone? The economy is still in the toilet, despite what so many moronic economists are saying. The housing market is … (4 comments)
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housing crisis: Has the Economy "Turned a Corner?" - 08/03/09 12:43 PM
Here's a link to an AP story that ran over the weekend:
http://m.apnews.com/ap/db_8559/contentdetail.htm?contentguid=FDzGH9Rw
In it, a bunch of people from the government say that we are on "the verge" of coming out of the recession. I can't belive the absurdity of these statements.
The fact that we only losing 550,000 jobs a … (0 comments)
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housing crisis: One more major factor holding back the housing market - 05/15/09 07:30 AM
I posted yesterday (and in the past) that rates have very little to do with people's decision whether or not to buy a home. I mentioned that eligibility and people's expectation of where housing prices are going are much bigger factors.
I received some comments that said that people's uncertainty about their … (0 comments)
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housing crisis: Economists are still morons - 05/14/09 04:15 PM
I got a lot of feedback the last time I posted about how economists really have no idea what they are talking about. I have been saying for years that mortgage rates have very little effect on the housing market. I have said that expectation of future appreciation and eligibilty have … (12 comments)
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housing crisis: Reverse Mortgage Rate Changes have a much bigger effect - 05/08/09 01:08 PM
Yesterday, I posted about Reverse Mortgage rates. I have posted many times about regular "forward" mortgage rates before and my opinion remains that they have very little effect on the housing market. I have gotten a lot of feedback disagreeing with me in the past, but the proof is all around … (0 comments)
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housing crisis: Reverse Mortgages can help millions, the new housing initiatives won't do much - 03/09/09 09:40 AM
I've already posted a few times about how Reverse Mortgages are helping many people avoid foreclosure and that they should help many more. I won't get into the specifics again in this post.
The new housing initiatives, like their recent predecesors (e.g. Hope for Homeowners) really won't do anything. Here's why:
Their are … (0 comments)
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housing crisis: Economists are (still) morons - 02/24/09 10:27 AM
Except for a few people with some guts, almost every economist is saying the same thing: By the end of 2009, the economy will start to rebound. These are the same bozos who predicted that it would rebound at the end of 2008.
It is a joke. The reality is that … (19 comments)
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housing crisis: I don't get it - 02/11/09 04:09 PM
I just don't understand how anyone thinks that if we spend 800 BILLION Dollars it will accomplish anything. The US gov'ts final bill for all of this bailout is going to be over 6 trillion. If they would have just paid everyone's mortgage off completely, it would have only cost 5 … (13 comments)
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housing crisis: $65 Billion for foreclosure relief! - 02/05/09 03:16 PM
The new stimulus package is going back and forth in the Senate now and there has been discussion to include $65 Billion for foreclosure relief. What will this money do?
Some say that it will go to "bail out" homeowners who are in default.
The problem with this is that many of … (4 comments)
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housing crisis: Eligibility- Are we in the right place now? - 01/27/09 04:52 PM
I had a comment yesterday (and I have posted) about eligibility. In a nutshell the issue is that all lenders have pulled back their eligibility and according to some people, 50% of the eligible borrowers from three years ago cannot qualify for a loan today.
Just taking out all of the … (4 comments)
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housing crisis: Ivy Zelman "gets it" - 01/12/09 10:06 AM
I've been ranting for many months about how teh housing market needas alot more time than most "experts" are giving it. Watch this clip and you'll see that I'm not the only one that thinks that housing can't start its comeback until 2010 or 2011.
http://www.youtube.com/watch?v=U0Rb51xxV_M
… (6 comments)
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housing crisis: Why Rate cuts won't help the housing market much (Part 2) - 12/29/08 07:54 AM
WOW! This is primarily a Reverse Mortgage Blog, but I received so many comments about this topic that I felt I had to post about it again.
First, Thank you to teh many, many peopel who commented about this topic in agreement. It seems thata vast majority of teh readers agree … (7 comments)
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housing crisis: Why Rate cuts won't help the housing market much - 12/26/08 10:02 AM
I have posted about this issue before and I have gotten many comments telling me I'm crazy.
I've been in the mortgage business for over twelve years and I can honestly say that rates have had a very small impact on people's decision of whether or not they should buy a … (65 comments)
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housing crisis: Peter Schiff from Euro Pacific Capital is a big bear - 11/26/08 07:58 AM
Mr. Schiff has been predicting the current economic crisis for a few years and up until about six months ago, most people called him crazy. Now he's being called "The man who called the collapse." you can see a six minute clip of him from last week here:
http://www.youtube.com/watch?v=wZUd2lMu5OQ&feature=related
He feels … (10 comments)
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housing crisis: Amazing lack of understanding among economists - 11/12/08 07:10 AM
Economists after economist and analyst after analyst keep saying that the foreclosure crisis needs to be dealt with to help all of these poor homeowners that are victims.
My guess is that less than ten percent of all properties in foreclosure are actually primary residences. From that ten percent I would guess … (10 comments)
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housing crisis: The Fed just rates gain, whoop de doo - 10/08/08 07:16 AM
The Fed and several other national banks of other countries just cut rates. It is not a bad idea and it is part of their job to cut rates to help the econmy, but once again: The only way for the mess to end is to let it hit bottom. I … (0 comments)
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housing crisis: I have a few problems with the bailout - 09/24/08 10:47 AM
Obviously, I am against the concept of bailing out institutions for making bad decisions in general, but specifically:
1) What changed last week? What exactly happened to scare Paulson and Bernanke into telling Congressional leaders that teh sky was falling? (could it be that Goldman sachs stock finally took a ahit … (10 comments)
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housing crisis: What a mess! - 09/22/08 08:11 AM
What amazes me about this whole bailout idea is that somehow, the people pushing it think it will help the housing market. The truth is that it won't improve at all from the bailout. If the Democrats get their foreclosure provisions (whatever they are) put into the bill, it may even hurt the … (16 comments)
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